Registered Investment Adviser
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RETIREMENT PLANNING IS CRITICAL
Today, every American must assume responsibility
for developing a personal retirement plan. So for
most of us, retirement is something we must
actively plan for and save towards. Yet the majority
of Americans typically don’t know how much to
save and don’t save enough. Moreover, retirement
today is more than just a matter of accumulating
enough money. Increasing life expectancy has
made retirement an extended stage of life. People
can expect to spend 15 to 35 years or more in
retirement. That’s a long time.
How Much Money is Enough?
Most people save money for retirement with no idea
if they are saving enough. Retirement planning
should begin with the question, “What is your vision
and goals for retirement?” Once a target has been
established, the process of getting to that target is
much easier.
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It is important to also consider more than just financial resources when developing a retirement
plan. As is the case in all phases of life, insurance is a foundation which can protect those
assets from surprises along the way.
Team Oliver considers all financial resources, insurance coverage, and most importantly personal
goals when developing a retirement plan. The retirement plan considers inflation, potential
investment outcomes, and illustrates them in an easy to understand format.
What are the Biggest Risks in Retirement?
One of the greatest risks for retirees are poor market performance right before or after retirement is to occur.
When this happens near retirement, the distributions taken from for living expenses require the selling of
investment assets when their value is lower, thus requiring a larger number of shares to be sold than when
the market was higher. When the market recovers at a later time, the portfolio has less shares than otherwise
would have, and therefore can significantly reduce the amount which can be safely drawn from the portfolio
later. This is so detrimental because when someone is near retirement, it is the longest period of time their
assets will be needed to provide retirement income.
Another great risk is a major unexpected financial expense. This could be in the form of a major illness,
lawsuit or death which lowers or eliminates a regular pension payment. These risks can be lowered through
the purchase of insurance coverage. Proper insurance planning can reduce these catastrophic risks for a very
reasonable premium. It is important to consider all of the factors in your situation, because there is no
one-size-fits-all approach. If one of these catastrophic events occurs, one or both retirees can be left with little
to no assets to survive on.
There are numerous other considerations when developing a retirement plan. Click here to see how Team
Oliver approaches the financial planning process.
Retirement planning can help you
• Set realistic financial and personal goals
• Assess your current financial health by examining your assets, liabilities, income, insurance,
taxes, investments and estate plan
• Develop a realistic, comprehensive plan to meet your financial goals by addressing financial
weaknesses and building on financial strengths
• Put your plan into action and monitor its progress
• Stay on track to meet changing goals, changing personal circumstances, changing stages of
your life, changing products, markets, and tax laws smart financial decisions.
We strongly urge you to involve us so we can make sure that your current financial decisions have a
positive impact on your longer term retirement plan. Contact us today for a complimentary consultation.
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Financial Life Advisors (FLA), a Registered Investment Adviser, and Jim Oliver & Associates, P.C. (JOA) are under common ownership and control. Team Oliver is used to describe collaborative services of both firms. Professional tax services are provided by JOA and investment advisory services are provided by FLA, each under separate agreements.
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Sign up here to schedule a
COMPLIMENTARY
consultation with a member
of Team Oliver.
Please bring a copy of last
year's income tax return.
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